Owlet, Inc. (NYSE:OWLT) Receives Average Rating of “Hold” from Analysts

Owlet, Inc. (NYSE:OWLT) has earned a consensus recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.00.

Several analysts recently weighed in on OWLT shares. TD Cowen restated a “buy” rating and set a $10.00 price objective (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Weiss Ratings downgraded shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th.

Institutional Trading of Owlet

A number of hedge funds have recently made changes to their positions in the company. Granahan Investment Management LLC raised its holdings in Owlet by 72.8% during the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock worth $6,099,000 after purchasing an additional 499,906 shares during the last quarter. Perkins Capital Management Inc. bought a new stake in Owlet during the fourth quarter valued at $1,653,000. Meros Investment Management LP acquired a new position in shares of Owlet in the 4th quarter valued at about $1,302,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Owlet in the fourth quarter worth approximately $60,000. Finally, Lazard Asset Management LLC bought a new position in shares of Owlet during the 4th quarter worth approximately $1,360,000. 72.60% of the stock is owned by institutional investors and hedge funds.

Owlet Stock Performance

NYSE OWLT opened at $5.15 on Wednesday. The firm’s 50 day simple moving average is $5.43 and its 200 day simple moving average is $7.42. The firm has a market capitalization of $149.75 million, a price-to-earnings ratio of -1.68 and a beta of 1.84. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. Owlet has a 1 year low of $4.19 and a 1 year high of $16.94.

Owlet (NYSE:OWLT) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $22.46 million for the quarter, compared to analyst estimates of $20.84 million. As a group, research analysts expect that Owlet will post -0.37 earnings per share for the current fiscal year.

Owlet Company Profile

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.